Range Forming?

Resistance: 1.0700
Support: 1.0585
The 1.0700 level has proved to be a fairly sturdy resistance, restraining the USDCAD on two separate occasions. Now the 1.0585 level will have the opportunity to prove its support as the pair drops down for the second time to test that level. If the support remains intact, the pair will have identified a new trading range.


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